In 1989 Bob Dylan wrote the song, “The Times They Are a Changin’.” The lyrics are prophetic. If you’re not familiar with the words, take a minute to read and reflect.
Year after year in my annual letter to clients I’ve written that politics and the economy have filled the daily headlines. Now add COVID-19. Even the reasons that people explore long-term care insurance are a changin’. For years, the reasons remained constant:
  • Not burden my kids
  • Stay at home
  • Afford quality care
  • Transfer wealth
Today the primary reasons we hear are:

  • Not outlive income
  • Not devastate my spouse’s/partner’s standard of living if I need care
In the new research, “The Four Pillars of the New Retirement,” respondents cited healthcare and long-term care costs posed the greatest financial worry in retirement. Yet 68% said they have no idea what these costs are or will be in retirement years. A dynamic resource for discovering care costs is the Genworth Cost of Care Survey which is updated annually and enables cost comparisons by city, state and year.
Important findings from the latest Age Wave study: The Four Pillars of Retirement.
What stands between you and a realistic long-term care quote? Just the facts.
Breaking down the difference between life insurance and long-term care insurance. It has to do with morbidity vs. mortality.
Have you addressed the elephant in the room? As an advisor, do you have your own long-term care plan in place?
Did You Know?

The state of your health is the most important factor in determining if you can qualify for long-term care insurance. Long-term care insurance is underwritten based on your medical history, family health history, current health status and lifestyle. When you apply, you must be mentally fit and able to perform all activities of daily living which are defined as bathing, dressing, eating, toileting, continence and transferring. If you're in great health, don't use tobacco products and don’t take any medications, carriers will be quick to insure you because you represent minimal risk. Certain health conditions could prevent you from qualifying for long-term care insurance.
Nicole Gurley, CLTC
Gurley Long-Term Care Insurance